EVgo’s (EVGO) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of EVgo (NASDAQ:EVGO) in a research report released on Wednesday,Benzinga reports.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of EVgo in a research note on Wednesday, July 15th. Wall Street Zen downgraded shares of EVgo from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada lowered their target price on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.18.

EVgo Trading Up 6.6%

NASDAQ EVGO opened at $1.62 on Wednesday. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07. The firm’s fifty day moving average price is $1.83 and its 200 day moving average price is $2.16. The company has a market capitalization of $508.45 million, a price-to-earnings ratio of -4.05 and a beta of 2.82. EVgo has a 12 month low of $1.41 and a 12 month high of $5.18.

EVgo (NASDAQ:EVGO) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. The firm had revenue of $82.65 million for the quarter. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) earnings per share. On average, sell-side analysts expect that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of EVgo

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in EVgo by 7.4% in the 4th quarter. Advisors Asset Management Inc. now owns 70,388 shares of the company’s stock worth $205,000 after buying an additional 4,826 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of EVgo by 22.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 26,798 shares of the company’s stock worth $78,000 after acquiring an additional 4,926 shares during the period. Quarry LP lifted its holdings in shares of EVgo by 145.0% during the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares during the period. DRW Securities LLC boosted its position in shares of EVgo by 19.2% in the fourth quarter. DRW Securities LLC now owns 39,655 shares of the company’s stock worth $115,000 after acquiring an additional 6,389 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in EVgo by 18.6% in the second quarter. The Manufacturers Life Insurance Company now owns 46,791 shares of the company’s stock valued at $171,000 after purchasing an additional 7,331 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Key EVgo News

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo plans to deploy EVgo-branded Tesla V4 Superchargers across its U.S. network under license. The chargers can reportedly deliver up to 500 kW and use Tesla’s Magic Dock, potentially improving charging speed, vehicle compatibility and network utilization. EVgo Will Install Tesla Superchargers At Its Charging Stations
• Positive Sentiment: Management outlined a path toward approximately $500 million in adjusted EBITDA by 2030, supported by network growth and the new Tesla-charger initiative. The target provides a long-term profitability narrative for investors, although execution remains important. EVgo outlines path to approximately $0.5 billion adjusted EBITDA by 2030
• Neutral Sentiment: Needham reiterated a “Hold” rating, signaling that the firm sees limited near-term justification for a more bullish stance despite EVgo’s strategic initiatives. Needham reiterates Hold rating for EVgo
• Negative Sentiment: Royal Bank of Canada lowered its price target from $3.00 to $2.50, while maintaining an “Outperform” rating. The reduced target reflects more cautious valuation assumptions, even though it remains above the current share price. EVgo price target lowered to $2.50 at Royal Bank of Canada
• Negative Sentiment: Cantor Fitzgerald cut its target from $4.00 to $3.00 but retained an “Overweight” rating. Multiple target reductions may weigh on sentiment by highlighting valuation and execution concerns. EVgo price target cut to $3.00 by Cantor Fitzgerald

About EVgo

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.